PLUS 18% volume drop IS worth 20% extension, stop complaining opposition fags 
Jan 17 2020, 10:50 AM
QUOTE(terryble @ Jan 17 2020, 10:38 AM)
why is it FCFF and not FCFE?
Dont agree with your calculations though...when they calculate the IRR, they have factored in fee hike...now the operator was not allow to hike the fees...so their IRR is affected....
Anyway, the above is just estimates, need to compare with actual....
Agree that it should be FCFE or even DDM. And IRR should be calculate as equity IRR not project IRR, basically IRR to equity holders. The capital structure significantly impacts the IRR. Dont agree with your calculations though...when they calculate the IRR, they have factored in fee hike...now the operator was not allow to hike the fees...so their IRR is affected....
Anyway, the above is just estimates, need to compare with actual....
With the extension, PLUS' debts will likely need to be restructured as well, such that the IRR remains about the same from the extractable dividends.
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